> In October 2021 the International Energy Agency (IEA) calculated that 45% of global methane emissions could be stopped at no net cost to the oil and gas companies.
Campaigners say:
> Now, stopping emissions should even be profitable, says Green Alliance; Russia’s invasion of Ukraine has sent gas prices soaring, meaning it should now be cost-effective for almost all the wasted gas to be captured and used.
And then those who have direct financial incentive not to do anything say:
> Both the fossil fuel industry and the government says it’s not that simple and point at steady reductions in methane emissions in recent years as proof of progress.
At least they are honest about it:
> “Some of these facilities are quite old. To repurpose them to capture what the Environment Agency would call “de minimis” (lacking importance) volumes of methane is not economically viable.”
And last, but not least; usual PR statement:
> A spokesperson from the Department of Business Energy and Industrial Strategy said the government is “working diligently with regulators to drive down methane emissions from oil and gas operations in the North Sea.”
In other words: we aren’t doing anything and we have no intention to do anything because that would hit the producers’ bottom line and affect their dividend payments. We would rather taxpayers pay for it, but we don’t think we can get away with further increase to energy prices for consumers.
>A spokesperson for UK oil and gas companies rejected that, saying it was not profitable to capture all of it
That seems to me to be admitting exactly what they’ve been accused of? That they’re letting material go to waste because they prefer prices high?
Has this flaring not been going on since the beginning of the industry? Why is it now a scandal? Work in any oilfield anywhere in the world and you’ll see it.
I honestly think fosil fuel producers should be nationalised (without compensation to shareholders) and managed by governments at this point.
I remember as a kid looking out at an oil platform and asking why there was a big fire on top of it…
Even as a child I thought that was insane
It’s not a scandal it’s just economics. The extra value is so low it’s not worth going out of your way to make use of it.
Put it this way – image all the bits of scraps of food and crumbs and that gets thrown out each day. All the little bits you shave off and throw down the drain or in the bin when you’re cooking. It probably adds up to tens of millions of calories. But you wouldn’t come at this with “why aren’t we making use of all these calories – it’s a scandal”.
6 comments
Experts say:
> In October 2021 the International Energy Agency (IEA) calculated that 45% of global methane emissions could be stopped at no net cost to the oil and gas companies.
Campaigners say:
> Now, stopping emissions should even be profitable, says Green Alliance; Russia’s invasion of Ukraine has sent gas prices soaring, meaning it should now be cost-effective for almost all the wasted gas to be captured and used.
And then those who have direct financial incentive not to do anything say:
> Both the fossil fuel industry and the government says it’s not that simple and point at steady reductions in methane emissions in recent years as proof of progress.
At least they are honest about it:
> “Some of these facilities are quite old. To repurpose them to capture what the Environment Agency would call “de minimis” (lacking importance) volumes of methane is not economically viable.”
And last, but not least; usual PR statement:
> A spokesperson from the Department of Business Energy and Industrial Strategy said the government is “working diligently with regulators to drive down methane emissions from oil and gas operations in the North Sea.”
In other words: we aren’t doing anything and we have no intention to do anything because that would hit the producers’ bottom line and affect their dividend payments. We would rather taxpayers pay for it, but we don’t think we can get away with further increase to energy prices for consumers.
>A spokesperson for UK oil and gas companies rejected that, saying it was not profitable to capture all of it
That seems to me to be admitting exactly what they’ve been accused of? That they’re letting material go to waste because they prefer prices high?
Has this flaring not been going on since the beginning of the industry? Why is it now a scandal? Work in any oilfield anywhere in the world and you’ll see it.
I honestly think fosil fuel producers should be nationalised (without compensation to shareholders) and managed by governments at this point.
I remember as a kid looking out at an oil platform and asking why there was a big fire on top of it…
Even as a child I thought that was insane
It’s not a scandal it’s just economics. The extra value is so low it’s not worth going out of your way to make use of it.
Put it this way – image all the bits of scraps of food and crumbs and that gets thrown out each day. All the little bits you shave off and throw down the drain or in the bin when you’re cooking. It probably adds up to tens of millions of calories. But you wouldn’t come at this with “why aren’t we making use of all these calories – it’s a scandal”.